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TFC - XLF: 'Blue Wave' Points To Breakout Rally Ahead In Financial Sector
Truist Financial Corporation
SPDR Financial Select Sector ETF (XLF) jumped nearly 5% amid optimism of another massive stimulus package after Democrats seized control of the U.S. Senate.
XLF looks set to continue catching up to S&P 500 (SPY) on rising inflation expectations and bond yields.
Earnings and dividend growth is expected to turn positive in majority of XLF's top holdings this year.
Favorable macro environment, improving fundamentals and bargain valuations point to a breakout year in XLF.